After Market: Credit Cards Get Credit for Lifting the Dow

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Two giant credit card companies helped lift the Dow Friday. American Express (AXP) gained 3.5 percent as fourth-quarter earnings doubled. The company cited strong consumer spending during the holidays. That in turn lifted Visa (V) by 4.5 percent. Both are among the 30 stocks in the Dow Industrials.
close up of credit cards
Alamy
As a result, the Dow Jones industrial average (^DJI) gained 41 points, but the Standard & Poor's 500 index (^GPSC) lost 7 points, and the Nasdaq composite (^IXIC) fell 21 points.

Not all of the earnings news from blue chip companies was as well-received.

Intel (INTC) fell 2.5 percent. Its results were pretty much in line with expectations, but its forecast was a bit weak. A lot of market pros watch Intel and other semiconductor makers as leading indicators of where the market is headed. General Electric (GE), another bellwether, fell more than 2 percent. Its net was in line, but analysts say the company's profit margin was disappointing.

And one more company we frequently cite as a key indicator of the broader economy: UPS (UPS) fell nearly 1 percent. The delivery company warned about its fourth-quarter results. It was caught flat-footed by the last minute surge in online shopping and had to hire 30,000 more seasonal workers than planned.

In the financial sector, Morgan Stanley (MS) gained more than 4 percent as it beat the Street. Among regional banks, SunTrust (STI) rose 3.5 percent on a big increase in its net, but Capital One (COF) fell 5 percent and M&T Bank (MTB) lost 2.5 percent.

Thursday's two biggest losers continued to slide. Best Buy (BBY) fell another 8.5 percent, based on its reports of a sales decline for the holidays. And NuSkin (NUS) lost another 6 percent. The personal care company's business practices are under investigation by officials in China, one of its biggest markets.

Payment services business Qiwi (QIWI) slid 13 percent. The company's major market is in Russia, and that nation his indicated it may limit Qiwi's cross-border electronic transfers due to concerns about terrorism and money laundering.

And Elizabeth Arden (RDEN) tumbled 19 percent to a 52-week low after issuing a disappoint earnings forecast.

Note: Financial markets will be closed Monday for Martin Luther King Jr. Day.

What to Watch Tuesday:

These major companies are due to report quarterly financial results:
  • Advanced Micro Devices (AMD)
  • Delta Air Lines (DAL)
  • Halliburton (HAL)
  • IBM (IBM)
  • Johnson & Johnson (JNJ)
  • SAP (SAP)
  • Texas Instruments (TXN)
  • Verizon Communications (VZ)
-Produced by Drew Trachtenberg.


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23 Comments

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Iselin007

Christopher Colombus unfairly gets credit for discovering America. Certainly the Queen of Spain found he didn\'t deserve the credit for she had his head for doing such a lousy job!

January 19 2014 at 6:50 AM Report abuse -1 rate up rate down Reply
1 reply to Iselin007's comment
Iselin007

I see you changed your name to Smith.

January 19 2014 at 7:18 AM Report abuse -1 rate up rate down Reply
Iselin007

http://en.wikipedia.org/wiki/Rowley,_East_Riding_of_Yorkshire#cite_note-Wickham-4

Also among the 1638 emigrants were two brothers, Richard and Thomas Wickham.[4]:2 Samuel, a son of Thomas, settled in Rhode Island and became a Freeman of the Colony and a Deputy.[4]:3 Another descendant, Captain John Clements Wickham R.N. served on the Beagle on its voyage with Charles Darwin and was later the first Magistrate and administrator of Queensland.[4]

Thomas is my great ancestor or my first great .....Grandfather to come to the colonies.

The rest of you can show me some ID before I call the authorities! :)

January 19 2014 at 6:28 AM Report abuse -1 rate up rate down Reply
1 reply to Iselin007's comment
Iselin007

Thomas did have a some assets when he came here. He was born after his own father passed by a few months so he had to sue for his inheritance from his mother\'s second marriage ect.

Neither Thomas nor Richard has a tombstone or one that has survived however Thomas has one of his first son\'s tombstone still in existance among other children.

Richard\'s has many of his children\'s tombstones and grandchildren\'s markers still in existance only the name is misspelled. I have the photos of the tombstones of many of the families that I could find for proof.

January 19 2014 at 7:06 AM Report abuse -1 rate up rate down Reply
Iselin007

Many of us who came here had surnames that had gone though several changes after the invasion of England by William the conqueror when surnames were not consistant. Even when the settlements started here many could not write or read in their native language so the same families might have different spellings on the tombstones especially if they had split up and died in a different colony miles from the orignal settlement.

January 19 2014 at 6:18 AM Report abuse -1 rate up rate down Reply
Iselin007

Get with the program people. There are some of us whose families came here long before this was the USA. The original immigrants came to a land under siege by warring tribes.
There were settlements of mostly English and other Europeans before even the colonies were formed. My ancestor who I am descendant from supposedly came here in 1638.
People had to barter or trade goods because there was no common currency except for trading goods or services. The only credit was working for somone until you were considered a Freeman! Unless you already came here with some assets from the mother country you had to make your way from the bottom.

January 19 2014 at 6:09 AM Report abuse -1 rate up rate down Reply
Iselin007

The government ought to pay our credit debts off before before paying China. If they hadn\'t ruined the economy with their trade deals and other big mistakes few of us would even need to charge anything but our cell phones!

January 19 2014 at 5:41 AM Report abuse -1 rate up rate down Reply
dan_crabtree

Any and all spending in this nation in the last six months was put on credit cards...and now reality is about to set in for millions of people...but hey do not take my word for this fact just set back and watch this nighmare unfold in the next few months...

January 18 2014 at 8:37 PM Report abuse -1 rate up rate down Reply
savannahswithgod

And next to lift up the DOW the homeless and those in the soup lines. Go Wall Street, you build America so I guess it is alright you destroy America.

January 18 2014 at 6:46 PM Report abuse rate up rate down Reply
betty_brock

An economy based on credit cards is a house of cards.

January 18 2014 at 3:29 PM Report abuse -2 rate up rate down Reply
Iselin007

After they ship the watch dials it will create demand for Geiger Counters.

January 18 2014 at 1:42 PM Report abuse -2 rate up rate down Reply
Iselin007

I figure since they are cleaning our clock in the green job they might as well paint the green on the watch dials too just to be consistant!

January 18 2014 at 1:40 PM Report abuse -2 rate up rate down Reply